Corruption in Argentina

[QUOTE=Gandolf50;429066]Expats living on pesos are doing better? Its true the dollar is trading at thirty percent above the official rate, but what good does that do you when prices are 2 to 3 times more expensive here then in the US of A? For example, here a pair of levis sell for 600 pesos and up. In Walmart. Com with tax and shipped to your house its around 20 dollars? Thats five times more expensive here. Not to mention they are probably selling you "levis" "Hecho en China!"[/QUOTE]My taxi driver said Americans visiting for vacation do well with increasing exchange rates, because it only takes a snapshot of a temporary window. He says ExPats retiring here are getting killed the same as all all local Argentine residents. He said when the rates jumps from 4 to 5 to 6, all the food, wine, gas, restaurants, and apt rents change to match within 90 days so you gain absolutely nothing. He said the best thing for anyone but short term visitors is a solid 2 to 1 rate.

Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

[URL]http://money.cnn.com/2013/04/22/news/companies/ralph-lauren-bribery/[/URL]

[QUOTE=PickCherry12;433289]Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

[URL]http://money.cnn.com/2013/04/22/news/companies/ralph-lauren-bribery/[/URL][/QUOTE]

The Ralph Lauren Store in Recoleta in front of the Alvear Palace Hotel and next to Black is a GORGEOUS Mansion that if it's for sale should be worth well over 5 million DOLLARS. Easy!

The building is closed as the Ralph Lauren Shop. Spectacular!

That street is or was full of high-end shops but most of them have left:

Armani.

Ralph Lauren.

Hermes?

Louis Viton?

Empty Shops or replaced by some very optimistic fools or money launderers.

TL.

Oh what a cat-house the Ralph Lauren Pad would make!

[QUOTE=PickCherry12;433289]Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

[URL]http://money.cnn.com/2013/04/22/news/companies/ralph-lauren-bribery/[/URL][/QUOTE]And then they're allowed to BUY their way out of prosecution?

Ha, ha! There's some good old American justice for you!

:winky:

Here's another example of business in Argentina:

[URL]http://en.mercopress.com/2013/04/23/brazil-investigating-sale-of-20-embraer-e-190-to-aerolineas-argentinas-fearing-surcharges[/URL]

[QUOTE=Gandolf50;429066]Expats living on pesos are doing better? Its true the dollar is trading at thirty percent above the official rate, but what good does that do you when prices are 2 to 3 times more expensive here then in the US of A? For example, here a pair of levis sell for 600 pesos and up. In Walmart. Com with tax and shipped to your house its around 20 dollars? Thats five times more expensive here. Not to mention they are probably selling you "levis" "Hecho en China!"[/QUOTE]I meant that I like a few other expats earning in pesos are really havong a difficult time as each month we earn less...

I hope that is clear enough.

WTF? Ralph Lauren pay a few hundred thou to facilitate importation to Argentina and they're prosecuted in the US?

Should have made political contributions in the US as well.

[QUOTE=Canardly;433299]WTF? Ralph Lauren pay a few hundred thou to facilitate importation to Argentina and they're prosecuted in the US?
[/QUOTE]It is odd isn't it?

Although even odder that they can then pay a bribe, no, sorry, "a fine", to _avoid_ the prosecution.

Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.

[QUOTE=Canardly;433303]Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.[/QUOTE]Probably because the complainants are now in California and not in Argentina.

Mongers-.

RL is being prosecuted in the US because their stock is traded on the NYSE and they are in violation of the Foreign Corrupt Practices Act, which makes it illegal for US-listed companies to bribe foreign officials.

Suerte,

Rock Harders.

[QUOTE=Canardly;433303]Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.[/QUOTE]

Thought paying bribes to do business in Argentina was a given. How foolish of me to think otherwise. Argentina, pilar of virtues.

[URL]http://www.reuters.com/article/2011/12/13/us-siemens-argentina-idUSTRE7BC18J20111213[/URL]

[QUOTE=Damman;433310]Thought paying bribes to do business in Argentina was a given. How foolish of me to think otherwise. Argentina, pilar of virtues.

[URL]http://www.reuters.com/article/2011/12/13/us-siemens-argentina-idUSTRE7BC18J20111213[/URL][/QUOTE]Now is "Batman" who came to save our lives! Mr. Honest! You confuse bribes with retributions!

By the way, what is the definition of a "lobby?

[QUOTE=Caricoso;433312]Now is "Batman" who came to save our lives! Mr. Honest! You confuse bribes with retributions!

By the way, what is the definition of a "lobby?[/QUOTE]I'm NOT saying that I'm Batman, I'm just saying that we have NEVER been seen in the same place at the same time.

TL.

I do not understand this thread. There is no corruption in Argentina. There is nothing to see here! Move along!